Tribunal Rules: No Delay in Filing; Exemption u/s 11 Must Be Granted Despite Initial Disallowance.

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....Validity of assessment passed w/o intimating u/s 143(1) - Denial of exemption u/s 11 and Claim of Expenses by the CPC - The Appellate Tribunal noted that the return of income and Form 10B were filed within the extended period due to the COVID-19 pandemic, as per the order of the Supreme Court. Relying on the Supreme Court's decision, the Tribunal held that there was no delay in filing the returns, and thus, the disallowance of expenses by the CPC was incorrect. The Tribunal directed the Assessing Officer to allow the exemption claimed under Section 11 of the Act.....